Oil explorer Triangle Petroleum Corp. filed for Chapter 11 bankruptcy protection amid liquidity troubles and its subsidiaries’ struggles.
The Denver-based company’s bankruptcy declaration, filed May 8 in a federal court in Delaware, lists liabilities between $100 million and $500 million. The company is seeking bankruptcy court approval of its reorganization plan by June 14, or soon thereafter, according to court documents.
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware has scheduled first day hearings for May 9.
The company owes about $169.1 million in funded secured debt to J.P. Morgan Securities, a unit of ...
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